China Crude Oil Refinery Outlook to 2021

1 Table of Contents 2

1.1 List of Tables 5

1.2 List of Figures 8

2 Introduction 9

2.1 What is This Report About? 9

2.2 Market Definition 9

3 China Energy Sector 10

3.1 China Energy Sector, Market Overview 10

3.2 China Energy Sector, Oil 11

3.2.1 China Oil, Overview 11

3.2.2 China Oil, Supply and Demand Balance 11

4 China Refining Industry 19

4.1 China Refining Industry, Key Data 19

4.2 China Refining Industry, Overview 19

4.3 China Refining Industry, Total Refining Capacity 19

4.4 China Refining Industry, Crude Distillation Unit Capacity 21

4.5 China Refining Industry, Condensate Splitter Capacity 38

4.6 China Refining Industry, Coking Capacity 38

4.7 China Refining Industry, Fluid Catalytic Cracking Capacity 45

4.8 China Refining Industry, Hydrocracking Capacity 55

4.9 China Refining Industry, Asset Details 59

4.9.1 China Refining Industry, Active Asset Details 59

4.9.2 China Refining Industry, Planned Asset Details 301

5 Recent Contracts 316

5.1 Detailed Contract Summary 316

5.1.1 Awarded Contracts 316

6 Financial Deals Landscape 322

6.1 Detailed Deal Summary 322

6.1.1 Acquisition 322

6.1.2 Debt Offerings 325

6.1.3 Partnerships 339

7 Recent Developments 342

7.1 Other Significant Developments 342

7.1.1 Jul 04, 2016: CNOOC Takes Upgraded Daxie Refinery Into Operation 342

7.1.2 Jun 24, 2016: PetroChina To Commission Anning Oil Refinery In October 2016 342

7.1.3 Jun 22, 2016: China's CNOOC Ships Australia-Spec Diesel Cargo From Huizhou Refinery 343

7.1.4 Jun 03, 2016: Sinopec Commences First US Crude Oil Processing At Maoming Refinery 343

7.1.5 Feb 19, 2016: Sinopec Subsidiary Resumes Diesel Exports From Tianjin Refinery In China 343

7.1.6 Oct 23, 2015: China's NDRC May Allow Another Four Firms To Refine Imported Crude Oil 344

7.1.7 Oct 20, 2015: Sinopec Completes $1 bln Refinery Expansion At Jiangxi Province In China 344

7.1.8 Oct 20, 2015: Sinopec Begins Operation Of Jiujiang Refinery Expansion Project In China 345

7.1.9 Aug 28, 2015: China's Norinco May Delay $14.46bn Plan To Build Refinery And Ethylene Complex 345

7.2 New Contracts Announcements 346

7.2.1 May 05, 2016: CNPCNE Wins EPC Contract For Cambodian Refinery Project Phase 1 346

7.2.2 Jan 19, 2016: Hebei Zhongjie and Genoil to build residue upgrading refineries 347

7.2.3 Jun 20, 2015: Rosneft And ChemChina Agreed On The Partnership In The Area Of Supplies, Refining And Mutual Investments 348

7.2.4 Feb 02, 2015: Genoil And Hebei Zhongjie Petrochemical Sign A New 700 Million Dollar Contract For The Operation And Construction Of A Heavy Oil Refinery Utilizing The GHU Technology 349

8 Appendix 351

8.1 Abbreviations 351

8.2 Methodology 351

8.2.1 Coverage 351

8.2.2 Secondary Research 352

8.3 Disclaimer 352

Table 1: Oil Industry, China, Historical and Forecast of Oil Production and Consumption (mbd), 2000–2020 12

Table 2: Oil Industry, China, Historical and Forecast of Oil Exports and Imports (mbd), 2000–2020 14

Table 3: Oil Industry, China, Historical Crude Oil Reserves (billion bbl), 2000–2015 16

Table 4: Refining Industry, China, Key Statistics, Jul 2016 19

Table 5: Refining Industry, China, Total Refining Capacity (mbd), 2011–2021 19

Table 6: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 21

Table 7: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.1) 22

Table 8: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.2) 23

Table 9: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.3) 24

Table 10: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.4) 25

Table 11: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.5) 26

Table 12: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.6) 27

Table 13: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.7) 28

Table 14: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.8) 29

Table 15: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.9) 30

Table 16: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.10) 31

Table 17: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.11) 32

Table 18: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.12) 33

Table 19: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.13) 34

Table 20: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.14) 35

Table 21: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.15) 36

Table 22: Refining Industry, China, Crude Distillation Unit Capacity (mbd), 2011–2021 (Contd.16) 37

Table 23: Refining Industry, China, Condensate Splitter Unit Capacity (mbd), 2011–2021 38

Table 24: Refining Industry, China, Coking Unit Capacity (mbd), 2011–2021 38

Table 25: Refining Industry, China, Coking Unit Capacity (mbd), 2011–2021 (Contd.1) 39

Table 26: Refining Industry, China, Coking Unit Capacity (mbd), 2011–2021 (Contd.2) 40

Table 27: Refining Industry, China, Coking Unit Capacity (mbd), 2011–2021 (Contd.3) 41

Table 28: Refining Industry, China, Coking Unit Capacity (mbd), 2011–2021 (Contd.4) 42

Table 29: Refining Industry, China, Coking Unit Capacity (mbd), 2011–2021 (Contd.5) 43

Table 30: Refining Industry, China, Coking Unit Capacity (mbd), 2011–2021 (Contd.6) 44

Table 31: Refining Industry, China, Fluid Catalytic Cracking Unit Capacity (mbd), 2011–2021 45

Table 32: Refining Industry, China, Fluid Catalytic Cracking Unit Capacity (mbd), 2011–2021 (Contd.1) 46

Table 33: Refining Industry, China, Fluid Catalytic Cracking Unit Capacity (mbd), 2011–2021 (Contd.2) 47

Table 34: Refining Industry, China, Fluid Catalytic Cracking Unit Capacity (mbd), 2011–2021 (Contd.3) 48

Table 35: Refining Industry, China, Fluid Catalytic Cracking Unit Capacity (mbd), 2011–2021 (Contd.4) 49

Table 36: Refining Industry, China, Fluid Catalytic Cracking Unit Capacity (mbd), 2011–2021 (Contd.5) 50

Table 37: Refining Industry, China, Fluid Catalytic Cracking Unit Capacity (mbd), 2011–2021 (Contd.6) 51

Table 38: Refining Industry, China, Fluid Catalytic Cracking Unit Capacity (mbd), 2011–2021 (Contd.7) 52

Table 39: Refining Industry, China, Fluid Catalytic Cracking Unit Capacity (mbd), 2011–2021 (Contd.8) 53

Table 40: Refining Industry, China, Fluid Catalytic Cracking Unit Capacity (mbd), 2011–2021 (Contd.9) 54

Table 41: Refining Industry, China, Hydrocracking Unit Capacity (mbd), 2011–2021 55

Table 42: Refining Industry, China, Hydrocracking Unit Capacity (mbd), 2011–2021 (Contd.1) 56

Table 43: Refining Industry, China, Hydrocracking Unit Capacity (mbd), 2011–2021 (Contd.2) 57

Table 44: Refining Industry, China, Hydrocracking Unit Capacity (mbd), 2011–2021 (Contd.3) 58

Table 45: KBR Secures Contract For The Provision Of License, Basic Engineering Design And Proprietary Equipment Package For A Grassroots Distill- Dividing Wall Column (DWC) Technology To Support A Refinery Located At Shandong Province In China 316

Table 46: KBR Secures Contract For The Provision Of Basic Engineering Design And License For The Revamp Of A Fluid Catalytic Cracker (FCC) Unit 317

Table 47: DuPont Clean Technologies Secures Contract From Hengli Petrochemical Company 318

Table 48: Luoyang Petrochemical Engineering Corporation (LPEC)/SINOPEC Secures Contract From Rizhao Landbridge Petrochemical 319

Table 49: CNOOC Oil & Petrochemicals Awarded Contract To Praxair 320

Table 50: Porvair Filtration Group Secures Contract From CNOOC Oil & Petrochemicals Co. 321

Table 51: Rosneft To Acquire 30% Interest In ChemChina Petrochemical From ChemChina 322

Table 52: QID And Hamad Bin Suhaim Enterprises To Acquire 49% Stake In Shandong Dongming Petrochemical For US$5 Billion 323

Table 53: China Petrochemical Completes Private Placement Of 2.125% Senior Notes, Due 2019 For US$1 Billion 325

Table 54: China Petrochemical Completes Private Placement Of 2.75% Senior Notes, Due 2021 For US$900 Million 327

Table 55: China Petrochemical Completes Private Placement Of 3.5% Senior Notes, Due 2026 For US$700 Million 328

Table 56: China Petrochemical Completes Private Placement Of 4.25% Senior Notes, Due 2046 For US$400 Million 330

Table 57: Sinopec Completes Public Offering Of 0.5% Bonds Due 2018 For US$915.2 Million 332

Table 58: Sinopec Completes Public Offering Of 2.5% Bonds Due 2020 For US$2.5 Billion 333

Table 59: Sinopec Completes Public Offering Of 3.25% Bonds Due 2025 For US$1.5 Billion 335

Table 60: Sinopec Completes Public Offering Of 4.1% Bonds Due 2045 For US$800 Million 336

Table 61: Sinopec Completes Public Offering Of 1% Bonds Due 2022 For US$699.9 Million 338

Table 62: KazMunayGas To Form Joint Venture With CEFC China Energy 339

Table 63: Sinopec To Form Joint Venture With China Petrochemical 340

Figure 1: Energy Industry, China, Primary Energy Consumption Split by Fuel Type (%), 2015 10

Figure 2: Oil Industry, China, Historical and Forecast of Oil Production and Consumption (mbd), 2000–2020 13

Figure 3: Oil Industry, China, Historical and Forecast of Oil Exports and Imports (mbd), 2000–2020 15

Figure 4: Oil Industry, China, Historical Crude Oil Reserves (billion bbl), 2000–2015 17

Figure 5: Refining Industry, China, Total Refining Capacity (mbd), 2011–2021 20